We present an axiomatic approach to the reallocation of water rights among economic sectors. Reallocation may be appropriate when the current schedule of water allocation is considered unfair. Our proposed approach is based on the combination of initial water rights, sectors' claims to water,...

We analyse the redistribution of a resource among agents who have claims to the resource and who are ordered linearly. A well known example of this particular situation is the river sharing problem. We exploit the linear order of agents to transform the river sharing problem to a sequence of...

In a river claims problem, agents are ordered linearly, and they have both an initial water endowment as well as a claim to the total water resource. We provide characterizations of two solutions to this problem, using Composition properties which have particularly relevant interpretations for...

We survey the economics of transboundary river water allocation, which emerged in the 1960s and has matured over the last decade due to increasing concerns over water scarcity and pollution. We outline the major approaches and pay specific attention to the strategic aspects of transboundary...

Cost-Benefit Analysis (CBA) is a widely applied economic appraisal t ool to support the planning and decision- making process for transport projects . However, in the planning literature CBA has been criticized for at least three reasons: 1) CBA focuses on traditional transport system related...

This paper develops a novel approach to the economic evaluation of public policies: participatory value evaluation (PVE). PVE involves citizens directly in decisions of the government, taking into account governmental and individual budget constraints. Citizens receive reliable information on...

Public benefit-cost analysis of market policies often relies on a particular definition of market surplus that adds up consumer and producer surplus and external costs. This paper provides an overview of conceptual strategies to deal with moral considerations and then develops an adjusted market...

We propose the river pollution claims problem to distribute a pollution budget among agents located along a river. A key distinction with the standard claims problem is that agents are ordered exogenously. For environmental reasons, the location of pollution along the river is an important...

We propose the river pollution claims problem to distribute a limited pollution budget among agents located along a river. A key distinction with the standard claims problem is that agents are ordered and they are given priority based on their location in this order instead of their identity. We...